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Irish merchandise exports, seasonally adjusted, fell by 4% to €6.77bn between February and March 2010, while imports increased by 8% to €3.83bn, reflecting a recovery in the economy, according according to the Central Statistics Office.
On an unadjusted basis, the value of exports in March 2010 fell by 5% compared with March 2009, while imports were down 8% . Monthly volatility is common because the US-owned chemical and medical device sector account for more than 50% of merchandise exports.
An analysis of trends between the first two months of 2009 and 2010 shows that: Exports decreased from €13.96bn to €13.24bn (-5%) - - Computer equipment decreased by 47%, Organic chemicals by 15% and Other transport equipment (including aircraft) by 82%. Exports of Medical and pharmaceutical products increased by 12% and Metalliferous ores by 94%. Goods to Great Britain decreased by 15% and to France by 17%. Exports to Spain increased by 7% and to China by 8%.
Imports decreased from €8.04bn to €6,87bn (-15%) - - Computer equipment decreased by 54%, Other transport equipment (including aircraft) by 38% and Power generating machinery by 37%. Imports of Petroleum increased by 16%, Medical and pharmaceutical products by 7% and Road vehicles by 7%.
Goods from the United States decreased by 25%, from China by 40% and from Great Britain by 9%. Imports from Switzerland increased by 138% and from Singapore by 24%.
